Walmart Registers $611.3-B Sales In 2022

Walmart has reported strong sales during the holiday season as budget-conscious consumers looking for better deals on groceries and other items flocked to its stores, Haleluya Hadero reported for the Associated Press (AP).

Photo Insert: Walmart also forecast adjusted earnings per share ranging from $5.90 to $6.05, excluding fuel.

The report was a good showing for the company, considering consumers had cut back on their overall spending during the traditional November-December shopping period.

The nation’s largest retailer also delivered full-year sales of $611.3 billion, up 6.7% compared to the prior year. But it gave cautious guidance for the next fiscal year, saying it expects sales to increase between 2.5% to 3% and US sales to jump 2% to 2.5%.

Walmart also forecast adjusted earnings per share ranging from $5.90 to $6.05, excluding fuel. Analysts surveyed by FactSet forecast $6.52 per share, on average. Shares rose less than 1% in early morning trading.

Also on Tuesday, Home Depot posted strong profits in its final quarter of 2022, but a muted outlook for this year sank its shares before markets opened. Amazon, which reported strong fourth quarter sales earlier this month, has also warned about a slower growth period for the coming months.

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